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Malta's Prime Minister Embraces Blockchain to Boost Economy and Fight Corruption

  • Malta's prime minister Joseph Muscat is fully supporting the country’s huge bet on Blockchain, being himself an ardent proponent of the nascent industry

Cover image via U.Today

According to a Bloomberg report, Malta's prime minister Joseph Muscat is fully supporting the country’s huge bet on Blockchain, being himself an ardent proponent of the nascent industry. He doesn’t deny that there a risk involved, but at the same time he claims that Blockchain is helping to diversify the country’s economy, which mainly relies on tourism and gaming, and even curb corruption.   

Malta, which is commonly dubbed a “Blockchain island”, has recently drastically lowered its tax rates in order to incentivize crypto businesses. As of now, the smallest economy in the EU is considered one of the world’s biggest crypto hubs.
 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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